St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-12-07
THE COMMERCIAL RECORD.
On the Chicago Board of Trade Yester-
terday There Was Quite a
Break in Prices.
The Cause Of the Collapse Attributed
to Very Heavy Selling BY
Dealers.
Transactions in the Financial Circles
of Wall Street.-The General
Quotations.
Special to the Globe.

SpSCldl 10 lL6 NloDS.
CHICAGO. Dec. 6.-Public cables quoted
spot wheat dull and I2d lower in Liverpool
this morning The bull spirit in this and
other American markets is still powerful.
The country is still buying. and new delega-
tons from the hoop pole townships are
arriving by every train. Wheat opened at
TS7sc for January and S5Isc for May. The
latt er month went TO S5s4c, at which point a
reaction set in that by 1890 o'clock carried
January TO 7SSsc and May to S5c. New York
and st. Louis were draggy in temper, aud the
boom acted somewhat groggy. With multi
tude of stop-loSs orders for country account
staring them in the face cent or two from
the market, commission men confess TO
feeling nervous. There was considerable
realizing for local and outside account early,
and the disposition 10 unload seems
to be deepening Corn was the
gamieSt article on the list
May opened at 50 SIC. went to 56Isc. and
broke off again to 55Ssc-all within an hour.
Bloom went into the pit TO protect the mar
ket when the prices struck soc on the back
track but kammerer plugged him with one
lot of 800. 600 bu at SIC and another of 250,-
900 bu at 557sc, and pIunging Leopold with
drew discounted. January pork advanced
from S14.S0 to S15.02I2. and May from
$3.50 to $3.50 right after the opening, re-
ceding later in sympathy with corn. For the
first hour January lard ranged S7.42l2d7.50;
May lard S7.S5dT.90; March ribs, S7.S00
E.65. Trade in May pork was particularly
lively. Realizing on an enormous scale i'll
everything produced general weakness and
caused a sharp decline in grain and provis-
ions that did not stop with the quotations
given above. The market kept on going
down till January corn touched 1890; May
corn, 54$sc; January wheat. 77I2c; May
wheat, S1lsc; May pork, Sl5.35; May lard,
$50; and January ribs. $40. AS com
pared with yesterdays best prices for grain
this is break of 294c in wheat and 2l4e i'll
corn. From the lowest range of depression
the market recovered fractionally,
but the rampant bullishness that
has governed operations of late has given
place to quite a different feeling.
Provisions sympaihized to a considerable ex
tent with grain. Hogs were lower and weak
Receipts are liberal and to-morrows esti-
mates are 80 900 head. There at last ap-
pears product enough 10 go round. The ice
on the provision pit is very Thin remarked
an old observer this afternoon. As compared
with Yesterdays closing the l o'clock ranges
show net shriukoge of il2G 5sc in wheat,
1c in corn. Ice in oats 20@ 22I2c in pork and
Toe in ribs and lard. At the afternoon seS-
sion the spirit of realizing prevailed and
prices declined n liberal selling. Wheat was
quite firm for near futures, but 3sc off for
May. Corn declined 5sG34c; oats, I2c; pork,
17I2@2oc: lard. loo l2I2c; short ribs. so
lac. $50 p. m. prices-Wheat December,
76Isc: January, 77sSc: February 7Sc; May,
Slis6S44c. Corn, December. 1850; Janu-
AIRY, 49c: February, 49l4c; May, 537s@54.
Oats, January and February. soc; May,
33lsc Pork. January, SLATE; February,
SI462I2; May, S15.1O. Lard. SITE; Jan
uary, S7.25; February, S7.35@,7 .37l2;
March. S74j; May. 81 $780,. 67t2. Short
ribs. January, S7.45: February, S7.57I2;
March, S7.67l2; Nav, S7.S5.
THE ROUTINE REPORT.
CHICAGO. Dec. 6.-There was a break in
prices on the board of trade to-day. 1t
Started about 10 O'Clock. May corn, which
had sold up TO 56l2c, dropped to 545Sc; May
wheat, which touched high at S5s4c- dropped
to S2I6c, and May pork. which sold up to
S15.70, went back TO SI5.57I2. all before
1880. 1t was attributed to the heavy selling
of yesterday. May wheat did not 20 below
Slice, and the reaction from the break car
Tied il back to Soc. 1t was found that there
were q good many buying orders around this
figure, and it held pretty close to S5c for
some time. Trading was rather cautious
after the break, and the aggregate from
1870 to the close of the session was not as
large as for the first hour At
Corn sales were very few al 54l2c for May.
and this proved to be its bottom price There
was enough demand for the stuff at 55c to
keep it pretty close around that figure for
practically the balance of the session. Pro-
visions furnished very uncertain field for
the Speculation May pork went down to
Sl5.35 before the break was checked From
this figure it advanced TO $1,000, and at
1890 was back to Sl0.47l2. The January
option followed the same course as May. and
the same was true of lard and ribs. Al the
close prices were: May wheat, S4Is0S4Ac:
May corn, 537sc; May oats, 33Isc asked;
January pork, 5 HAZE: January lard, S7.25;
January short ribs. S1.45.
THE QUOTATIONS.
The leading futures ranged as follows:
Wheat-No. =. December, opening at 7SI8c,
closing at 1850; January, opening at 1850,
closing at 71$sc; February, opening at 1850,
closing at 7Sc: May, opening at S0l2c clos
ing at S4l2c. Corn-No. ., December, open
ing at 50Sse, closing AT 4s7sc: January. open
ing at 5OI2c, closing at 49c; February,
opening at sic; closing at 49Ac; May.
opening at 555Sc, closing at 537sc.
Oats-No. ,, January, opening at SOC,
soc. closing at SOC; May, opening at $3.50,
closing at 3318c. Mess Pork, per bbl-
January, opening at S1445, closing at
S1447l2: February. opening at S15. closing
S15.1O. Lard, per 100 lbs-Deeember,
opening at S7.32l2: closing at 7.17I5;
January. opening at S7.42I2. closing
at 1928: February, opening at S7.52I2,
closing at S7.35; May, opening at s.. IS,
closing at S7.65. Short Ribs, per 100 lbs
January, opening at S7.5zI2, closing at 81 45; ;
February, opening at s., GLE, closing 81. 57I2;
March, opening at $50, closing at S7.67I2
May, opening at S795. closing at S7.S5
Cash quotations were as follows: Fiou-
steady and nomlnally unchanged. Wheat
No. = spring, 1850 167sc; No. 8 spring.
67l2c; No. red. 77S4c. Corn-No. ., 1870
1880, Oats-No. =, 3lc. Rye-No. 59I2c
Barley-No. ,. 75c. Flax seed-No. l, s.. %
Timothy Seed-Prime, s. 3202. 30. Mess
pork, per Dbl. S14 25@14.60. Lard, per 100
lbs, S7.30@7. 32I2. Short rib sides OooSei,
S7.45@67.5O: dry sailed shoulders (boxedl,
S5.9006; short clear sides (boxed), SS.o5
OSLO. Whisky-Distillers' finished goods,
per gallon, s1.1O.. Sugars-Cut loaf, 7l4@
FAC; graduated, TIsc; standard "A
6s4c. Receipts-Fleur. "a coo bbls; wheat
$4,000 bu; corn, 176,0 bu; oats, Ill
600 bu; rye, 5000 bu; barley. q, 900 bu
Shipments-FIour, 2S. 600 bblS; wheat, 90
600 bu: corn, IS, 900 bu; oats, IS. 900 bu;
rye. 500 bu; barley, $4,000 bu. On the
produce exchange to-day the butter market
was quiet but firm: fancy creamery 290
Sic: fancy dairy, 25@ 26c. Eggs, 21l2923c
r. M. NEWPORT & SON,